Supercars is a ‘bigger’ brand than the sports car industry
Supercars has become the “bigger” brand in the sports-car racing sector than the motorsport industry in the past few years, according to the sports and entertainment car industry’s chief executive.
Key points:Supercars is worth more than the entire sport of motor racingThe industry is estimated to be worth $7 billionSupercars and Formula One are the most valuable brands in the sport of motorsport, with a combined annual revenue of $7.6 billionThe company’s revenue is forecast to grow by nearly 50 per cent next yearSource: Forbes Supercars chief executive David Tew said he expected the sport to “grow to a trillion dollar market” by 2020 and its brand to be “big enough to compete with the likes of Mercedes-Benz and BMW”.
Supercars has already surpassed the total value of the sports industry to become the second most valuable brand in Australian sports car racing, behind the Holden Commodore, according the Sports Car Council.
“Supercars’ brand and business model have grown massively since the advent of the brand and it’s a massive and profitable business,” Tew told ABC News.
“It’s got a big value proposition.
It’s the brand that’s bigger than the sport, and there’s a lot of people that have to be paid for that.””
The sport industry is the biggest market in Australia for sports car drivers and racing drivers and it is growing and growing at a tremendous rate.”
The big brands in sport are the Ford and Jaguar brand and then there’s the Toyota brand.
“Mr Tew made the remarks ahead of the launch of a new Supercars marketing campaign in Perth on Saturday.”
We’re trying to do something new and innovative, to really get the brand on the ground, in the paddock and in the industry,” he said.”
That’s a huge challenge because it’s very difficult to get the word out about something you’ve got to build up to something that you’ve achieved and that is what we’re trying.
“Mr Jules Williams said Supercars was a “huge brand” that had achieved “great success” in the market.”
This is a brand that is going to be around for many years to come,” he told ABC Radio Perth.”
There’s a big market for it, a big demand for it and we’re going to keep trying to grow that brand.
“The announcement of the campaign comes after the release of Supercars’ new advertising campaign.
Supercars will run a new TV commercial in Perth in the coming weeks and is expected to be the most expensive TV commercial to be run by a major Australian brand in history.